Salvador President Hits Back at Opposition Over Bitcoin Law Criticism

Published June 24, 2021 | Updated June 24, 2021

Salvador President Hits Back at Opposition Over Bitcoin Law Criticism

Nayib Bukele, the president of the Central American nation Salvador has hit back at the opposition leaders for creating fear among people over the recently passed Bitcoin law. The President said the Bitcoin bill was passed by congress through a democratic process and the falsehood created by some leaders in the opposition is uncalled for. He said,

Many in the opposition have wanted to confuse the Salvadoran people about Bitcoin, inventing falsehoods and trying to put fear where there is no problem.

President Bukele’s rebuttal came in the wake of a lawsuit filed by the deputy of opposition party Farabundo Marti National Liberation Front (FMNL) against the Bitcoin law. The lawsuit claims the new law is unconstitutional and the ruling party didn’t consider ill effects on common citizens.

Salvador created history on June 9 after it became the first country to make Bitcoin a legal tender. The president at that time had said the decision was well articulated and shouldn’t be seen as a gimmick. The Central American nation is currently looking to get technical assistance for implementing Bitcoin as a legal tender and CABEI has come to their rescue despite the world bank’s denial. The President had earlier admitted that there could be complexities in adoption but they would move forward with it.

President Will Clarify Doubts About the Bitcoin Law via National Tv and Radio

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President Bukele also announced he will go live on June 24 on the national tv and radio network to clear doubts created by the opposition regarding the new Bitcoin law.

Apart from making Salvador the first country to adopt Bitcoin as a legal tender, Bukele is also working toward making it a clean Bitcoin mining hub. He has recently given a sneak peek into the upcoming mining setup powered by volcanic energy.

 

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Prashant Jha 836 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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